Those who opt for quarterly filing will have to select the last month of the quarter from the drop down menu.
The GSTN on Monday announced that it will allow taxpayers to submit GST filings on quarterly or monthly basis.
Taxpayers with annual aggregate turnover up to Rs. 1.5 crore, in the previous financial year or anticipated in the current financial year, can avail the option of filing quarterly returns.
Users will have to log in to the GST portal, then they will have to choose appropriate option before they can proceed further to file return forms like GSTR-1 or GSTR-3B," said CEO GSTN, Prakash Kumar.
Those who opt for quarterly filing will have to select the last month of the quarter from the drop down menu. However, GSTR-1 has to be filed for July month by all taxpayers as option to file quarterly returns is applicable for returns from August onwards.
Thus, a taxpayer who opts for quarterly return filing will have to file GSTR-1 in the following manner:
For July: monthly (by choosing July from drop down menu)
For 2nd Quarter (August and Sept): Quarterly by choosing Sept
For 3rd Quarter (Oct-Dec): Quarterly by choosing December
All the taxpayers who opt for monthly filing can now file GSTR1 from August onwards till November
Table 9 of GSTR1 has also been introduced by the GSTN. Table 9 provides taxpayers, a facility to edit invoices/credit notes/ debit notes or shipping bill details submitted previously in GSTR-1 of July or Table 6A of GSTR 1 for the month of August onwards
Taxpayers who registered themselves as normal but opted for composition later require dashboard of monthly as well as quarterly taxpayer as they were normal taxpayer (monthly return filer) for part of the period and composition for remaining period (quarterly return filer).
Similarly, those who were registered as Composition but opted out of it and became later will also require composite dashboard. The composite dashboard for such taxpayers will be made available soon, the GSTN noted.
GSTN has also introduced the functionality of GSTR-5A Return, to be filed by Online Information Database Access or Retrieval Services. This is to be filed by companies which provide services through the medium of internet and are received by the recipient online without having any physical interface with the supplier of such services.
Transition Form, TRAN 2, has also been made available on the GST Portal. However, this can be filed only by one who is not registered under the old regime/ Pre GST regime, and possesses closing stock on June 30, 2017.
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